Bluestone Mortgages has released the first issue of its new “Specialist Tracker” research series, and it shows that the overwhelming majority of mortgage brokers expect growth in the market in 2019.
In total, 85 per cent of those asked believe this to be the case, with 34 per cent of the total expecting the specialist lending market to “grow significantly,” the report says.
Of these hopefuls, 52 per cent stated that growth will be by at least £1bn, 37 per cent by £1bn to 5bn, ad 20 per cent answering over £5bn.
Regarding the opportunities that will lead to this hoped-for growth, 33 per cent of those asks pointed towards the increasing numbers of self-employed workers looking to purchase property, 26 per cent at growing competition, and 21 per cent each voted for increased product choice and consumer confidence.
Bluestone Mortgages director of sales and marketing Steve Seal (pictured) says: “There is very little research out there looking at the specialist lending market as an entity of its own, and almost none from a specialist lender itself. We are therefore very excited to launch our new research series to show the capability and potential of the market.”
Legal & General Mortgage Club director Kevin Roberts comments: “It’s great to see this sector of the market growing, ensuring mortgage solutions are available for many different types of customers and their changing circumstances… we hope that Bluestone’s findings encourage more brokers to unlock the potential of this market.”
PMS specialist relationship manager Stephanie Charman adds: “It’s exciting to see a new report focussed solely on the specialist lending market. This market has seen significant growth over recent years, both in terms of lending volumes, along with the increased number of lenders available offering a wide range of products and criteria.”